ACAES ACTIVITY REPORT
 
1.  THE PERSPECTIVE

The American Committee on Asian Economic Studies (ACAES) was founded in 1982 following a successful conference on “United States- Asia Economic Relations” held in the spring of 1981 at the New Brunswick campus of Rutgers University.  ACAES is an inter-university education program, governed by an Executive Board consisting of 38 economists from 29 universities and research institutes in the United States.
 Three specific developments in the early 1980s contributed to the founding of the program:
1. In 1981, a “milestone” was passed when the United States for the first time in its history did more trade on trans-Pacific routes than on trans-Atlantic routes.  This added to the new awareness of Asia’s economic dynamism.
2. More specifically, the economic achievements of Japan, the successful industrialization of Korea, Taiwan, Hong Kong, and Singapore, and the emerging industrial base in Southeast and South Asia were increasingly noted.
3. Normalization of U.S. relations with the People’s Republic of China and subsequent political and economic developments in that country opened a vast area of Asia which for over four decades had been given little attention.

 As a result, it was widely observed in the 1980s that studies of Asian economies needed a structured framework.  There is an increasing volume of economic literature pointing to the mode of Asian industrialization, and its pace.  Indeed, it seems to have a paradigm of its own, often referred to as the Adaptive Innovation Paradigm.
 Current developments in Western Europe centering on the European Community (EC) and its monetary union (EMU) have further contributed to a spirited discourse pointing to the emergence of a new international economic order based on regionalism and globalism, perhaps replacing the post-World War II bi-polar regime of North and South.  Economic regionalization in Western Europe, once viewed as an intellectual curiosity of Jean Monnet, has successfully withstood challenges from hostile forces ever since the signing of the Treaty of Rome in 1957, and has become a reality.  The European experience will have an impact not only on the Americas, but also on Asia.  The challenge of economic cooperation in the Asia-Pacific region may prove crucial to the United States and all countries in Asia.
 The ACAES program thus continues to meet a challenging need for studies of Asian economies and their relationships with the United States and the rest of the world.

2.  THE OBJECTIVE
The principal objective of the ACAES program is to provide a forum for a sustained dialogue among economists engaged in studies of Asian economies, with special emphasis on the new paradigm of Asian industrialization and its impact on United States-Asia economic relations.
 The program takes a comprehensive view of the subject, covering diverse fields: economic theory, applied econometrics, international trade, international finance, economic development, and comparative economic systems.  Thus, it cuts across many classifications in the Journal of Economic Literature.
 The ACAES program is distinguished from other programs on Asian studies in two fundamental ways: (1) an exclusive focus on economics and economic policy issues; (2) a broad regional coverage, which encompasses Japan, the Northeast Asian NIE, the ASEAN countries, China, India and South Asia (SAARC), Australia and New Zealand (ANZ), and other Pacific Island economies.
 ACAES CONFERENCE PROGRAM

Initiative ONE: U.S. Asia Economic Relations;
Initiative TWO: U.S.-Asia Banking and Financial Markets;
Initiative THREE: China’s Economic Development; and
Initiative FOUR: APEC: NAFTA/ASEAN/SAARC



22nd Initiative ONE: “A Macroeconomic Core of Open Economy for Progressive Industrialization and Development of Asian Economies in The New Millennium” December 16-18, 1998 jointly with Chulalongkorn University and Chulalongkorn Economics Association, Bangkok, Thailand.



21st Initiative TWO: “money and Financial Markets in Asia: A Challenge to Asian Industrialization” September 15-16, 1997 jointly with Federal Reserve Bank of San Francisco, San Francisco, CA.



20th Initiative ONE: “The New Industrial Revolution in Asian Economies” May 14-17, 1996 jointly with The Malaysian Economic Association and The University of Malaya, Kuala Lumpur, Malaysia.



19th  Initiative FOUR: India’s New Economic Policy, March 11-14, 1996 jointly with Jawaharlal Nehru University, New Dehli, India.



18th:   Initiative THREE: China’s Economic Development: November 9-12,
jointly with Shanghai Pudong New Area Administration, Shanghai Academy of Social Sciences (SASS) and Chinese Academy of Social Sciences (CASS), Shanghai, China.



17th: Initiative FOUR: APEC: NAFTA/ASEAN/SAARC: August 29-September 1, 1994 jointly with the Economics Faculty of University of Indonesia and Ikatan Sarjana Ekonomi Indonesia (SEI), Denpasar, Bali.



16th: Initiative ONE: May 16-18, 1994, jointly with Lemberg Asia-Pacific Center, Brandeis University, Waltham, MA.



15th: Initiative FOUR: December 16-18, 1992, jointly with Chulalongkorn University, Bangkok, Thailand.



14th: Initiative THREE: November 10-12, 1992, jointly with Chinese Academy of Social Sciences (CASS) and Shanghai Academy of Social Sciences (SASS), Beijing, China.



13th: Initiative TWO: October 29-30, 1992, in cooperation with Federal Reserve Bank of Atlanta, Atlanta, GA.



12th: Initiative ONE: June 20-22, 1991, jointly with Tokai University, Kanagawa Prefecture, Tokyo, Japan.
 

11th: Initiative THREE: December 3-6, 1990, jointly with Chinese Academy  of Social Sciences (CASS) and Shanghai Academy of Social Sciences (SASS), Shanghai, China.



10th: Initiative TWO: November 29-30, 1990, in cooperation with Federal Reserve Bank of San Francisco, San Francisco, CA.



9th: Initiative ONE: June 18-21, 1989, jointly with The Pacific Basin Study Program, Columbia University in the City of New York, New York, NY.



8th: Initiative THREE: September 4-8, 1988, jointly with Chinese Academy of Social Sciences (CASS) and Shanghai Academy of Social Sciences (SASS), Shanghai, China.



7th: Initiative THREE: June 28-July 2, 1987, jointly with The Huazhong University of Science and Technology (HUST), Wuhan, Hubei, China.



6th: Initiative ONE: June 21-25, 1987, jointly with The Chinese University of Hong Kong, Shatin, NT, Hong Kong.



5th: Initiative ONE: September 29-October 1, 1985, jointly with The Asia Society of New York and The Port Authority of New York & New Jersey, New York, NY.



4th: Initiative TWO: June 14, 1985, in cooperation with Federal Reserve Bank of New York, New York, NY.



3rd: Initiative TWO: May 11, 1984, in cooperation with Federal Reserve Bank of San Francisco, San Francisco, CA.



2nd: Initiative TWO: May 18, 1983, in cooperation with a group of commercial banks, Waldorf Astoria Hotel, New York, NY.



1st: Initiative ONE: April 16-18, 1981, sponsored by Rutgers- The State University of New Jersey, New Brunswick, NJ.
 

 
 
 

 ACAES PUBLICATIONS

Research in Asian Economic Studies (Vol.8, 1998), Eds. Dutta-Hooley-Mahani
Greenwich, CT., JAI Press, 431 pp.

Asia-Pacific Economic Cooperation: Theory and Practice (Vol. 7.A, 1996), Eds. Hooley-Nasution-Pangestu-Dutta, Greenwich, CT., JAI Press, 256 pp.

Asia-Pacific Economic Cooperation: Theory and Practice (Vol. 7.B, 1996), Eds. Hooley-Nasution-Pangestu-Dutta, Greenwich, CT., JAI Press, 256 pp.

Asia-Pacific Economic Community? (Research in Asian Economic Studies, Vol. 6, 1995), eds. Dutta-Green-Suthiphand-Paitoon, Greenwich, CT, JAI Press, 488 pp.

Asia-Pacific Economies: 1990’s and Beyond (Research in Asian Economic Studies, Vol. 5, 1994), eds. Dutta-Shiratori, Greenwich, CT, JAI Press, 488 pp.

Asian Economic Regimes: An Adaptive Innovation Paradigm (Research in Asian Economic Studies, Vol. 4A, 1992), ed. Dutta, Greenwich, CT, JAI Press, 300 pp.

Asian Economic Regimes: An Adaptive Innovation Paradigm (Research in Asian Economic Studies, Vol. 4B, 1992), ed. Dutta, Greenwich, CT, JAI Press, 320 pp.

China’s Economic Reform 1978-1988 (Research in Asian Economic Studies, Vol. 3, 1991), eds. Dutta-Zhang, Greenwich, CT, JAI Press, 300 pp.

Retrospect and Prospect: the Chinese and American Economists’ Conference in Shanghai, December 3-6, 1990 (in Chinese) (1991), eds. Zhang-Dutta-Yao-Jefferson, Shanghai, China, Shanghai Academy of Social Science Press, 521 pp.

China’s Modernization and Open Economic Policy (Research in Asian Economic Studies, Vol. 2, 1990), eds. Dutta-Chang-Lin, Greenwich, CT, JAI Press, 449 pp.

Asian Industrialization: Changing Economic Structures, (Research in Asian Economic Studies, Vol. 1A, 1988), ed. Dutta, Greenwich, CT, JAI Press, 359 pp.

Asian Industrialization: Changing Economic Structures, (Research in Asian Economic Studies, Vol. 1B, 1988), ed. Dutta, Greenwich, CT, JAI Press, 377 pp.

Asia-Pacific Economies: Promises and Challenges (Research in International Business and Finance, Vol. 6A, 1987), ed. Dutta, Greenwich, CT, JAI Press, 308 pp.

Asia-Pacific Economies: Promises and Challenges (Research in International Business and Finance, Vol. 6B, 1987), ed. Dutta, Greenwich, CT, JAI Press, 308 pp.

Studies in United States-Asia Economic Relations (1985). ed. Dutta, Durham, NC, Acorn Press, 578 pp.
  


ACKNOWLEDGEMENTS

Rutgers- The State University of New Jersey, NJ
University of Malaya, Kuala Lumpur
Persatuan Ekonomi Malaysia, Kuala Lumpur
Jawaharlal Nehru University, New Dehli
University of Indonesia, Jakarta
Iaktan Sarjana Ekonomi Indonesia (ISEI), Jakarta
Brandeis University, Waltham, MA
The Chinese University of Hong Kong, Hong Kong
Chulalongkorn University, Bangkok
Tokai University, Tokyo
Columbia University, in the city ofNew York, NY
University of California at Berkeley
Huazhong University of Science and Technology (HUST), Wuhan, Hubei
Shanghai Academy of Social Sciences (SASS), Shanghai
Chinese Academy of Social Sciences (CASS), Beijing
Shanghai Pudong, New Area Administration, Shanghai
The Asia Society of New York
The Daewoo Foundation, Seoul
The John D. & Katherine T. MacArthur Foundation, Chicago, IL
The Ford Foundation, New York
The Wellphone Fund for Culture & Education, Taipei
Federal Reserve Bank of San Francisco
Federal Reserve Bank of New York
Federal Reserve Bank of Atlanta
United Nations Development Programme
United States Agency for International Development
Asian Development Bank
 

ACAES CORPORATE PATRONS

AT&T
CitiCorp/CitiBank, New York
Coopers & Lybrand, New York
Daewoo International (America), New York
Daiwa Securities America, New York
The Equitable Financial Companies, New York
Ford Motor Company, Detroit
The Port Authority of New York & New Jersey
The Prudential Insurance Company of America, Newark
Salomon Brothers, New York
Scudder, Stevens & Clark, New York
Tuntex Group, Taipei


The American Committee on Asian Economic Studies (ACAES)
An Inter-university (Nonprofit) Program Founded in 1982
Executive Board: Life Members

Robert E. Baldwin, University of Wisconsin at Madison
Romeo M. Bautista, International Food Policy Research Institute
Gregory C. Chow, Princeton University
M. Jan Dutta, Rutgers University
H. Peter Gray, Rensselaer Polytechnic Institute at Troy, NY
Richard Hooley, University of Pittsburgh
F. Tomasson Januzi, University of Texas at Austin
Gary H. Jefferson, Brandeis University
Lawrence R. Klein, University of Pennsylvania
Richard F. Kosobud, University of Illinois at Chicago
Lawrence B. Krause, University of California at San Diego
Lawrence J. Lau, Stanford University
Chung H. Lee, University of Hawaii at Manoa
Woo Bong Lee, Bloomsburg University of Pennsylvania
John M. Letiche, University of California at Berkeley
Edward J. Lincoln, The Brookings Institution
Kanta Marwah, Carleton University
James I. Nakamura, Columbia University in the City of New York
Walter C. Neale, University of Tennessee
Gustav F. Papanck, Boston University
Hugh T. Patrick, Columbia University in the City of New York
Dwight H. Perkins, Harvard University
James Riedel, Johns Hopkins University
George Rosen, University of Illinois at Chicago
Vernon W. Ruttan, University of Minnesota
Kazuo Sato, Rutgers University
Ryuzo Sato, New York University
Gary R. Saxonhouse, University of Michigan at Ann Arbor
T.N. Srinivasan, Yale University
Joseph J. Stern, Harvard University
Paul P. Streeten, Boston University
Vincent Su, The City University of New York
Anthony M. Tang, Vanderbilt University
James T. H. Tsao, U.S. International Trade Commission
Yien-I Tu, University of Arkansas at Fayetteville
Calla Wiemer, University of Hawaii at Manoa
Jang H. Yoo, EWHA University, Seoul

Executive Board: Term Members (Term ending December 31, 2000):

M.A. Monayem Chowdhury, Kutztown University of Pennsylvania
Edna E. Ehrlich, Erlich International Consulting, New York
David Jay Green, Asian Development Bank, Manila
Steven L. Husten, University of Pittsburgh
Sung Y. Kwack, Howard University
Hiro Lee, Nagoya University, Nagoya, Japan
J. C. Liu, State University of New York at Binghamton
Philip J. Mizzi, Arizona State University West
Balwant Singh, Bucknell University
Gang Yi, Indiana University

Board of Trustees: (1997-2000)
M. Jan Dutta, President
Richard Hooley and Kazuo Sato, Vice Presidents
Members: Jere R. Behrman, Richard F. Kosobud, Calla Wiemer, James Riedel

Executive Officers: (1997-2000)

Director: M. Jan Dutta, Rutgers University
Associate Directors: Richard Hooley, University of Pittsburgh; and Kazuo Sato, Rutgers University
Additional Associate Directors: Steven L. Husted, University of Pittsburgh; Gary H. Jefferson, Brandeis University; J.C. Liu, State University of New York- Binghamton; George Rosen, University of Illinois at Chicago.
Treasurer: Richard Hooley, University of Pittsburgh
Director for Corporate Relations & Public Affairs: Edna E. Ehrlich, Erlich International Consulting
Director of Operations: Lee Fazio, The City of New York

Program Associates:

Mahani Zainal Abidin, University of Malaya, Kuala Lumpur
Arsenio M. Balisaean, Universityof the Philippines, Manila
Masumi Kishi, Chuo University, Tokyo
Chyau Tuan, The Chinese University of Hong Kong, Hong Kong
Paitoon Wiboonchutikula, Chulalongkorn University, Bangkok
Widjanarko, Ikatan Sarjana Ekonomi Indonesia, Jakarta

Banker:

Fleet Bank, Piscataway, NJ

Certified Public Accountant:
Milgrom, Galuskin, Rosner & Company, Edison, NJ

Direct all communications to:

Professor M. Jan Dutta
Department of Economics
Rutgers University
New Brunswick, NJ  08901-1248 (USA)
email:  mdutta@rci.rutgers.edu      or     DUTTA@economics.rutgers.edu
Telephone: (732) 932-7054
Fax: (732) 932-1558